This is pretty unequivocally bad for bonds. Anywhere we could look for "yeah buts" to mitigate the negative impact of the data, we're coming up short. About the only "yeah but" available is that the 3.1% y/y average hourly earnings number--while the highest on record during the recovery from the Great Recession, was merely in line with analyst expectations. Still, that's precious little consolation.

10yr yields are up 3.8bps on the day at 3.1722 and Fannie 4.0 MBS are down nearly a quarter of a point at 99-29 (99.91).

MBS / Treasury Market Data

FNMA 3.5

97.66

-0.09

FNMA 4.0

100.22

-0.09

FNMA 4.5

102.55

-0.09

2 YR

2.7910

-0.0170

10 YR

3.0630

-0.0020

Pricing as of: 11/19 5:05PM
EST

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The interest rate data provided in this newsletter are national averages from independent data sources. Rate/APR terms may differ from those listed above based on the creditworthiness of the borrower. All information provided "as is" for informational purposes only, not intended for trading purposes or financial advice.